What an out of touch moron. A closet Marxist. Posted by DaveH at March 11, 2011 10:11 AMWhen the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals. We shall be able to rid ourselves of many of the pseudo-moral principles which have hag-ridden us for two hundred years, by which we have exalted some of the most distasteful of human qualities into the position of the highest virtues. We shall be able to afford to dare to assess the money-motive at its true value. The love of money as a possession - as distinguished from the love of money as a means to the enjoyments and realities of life - will be recognised for what it is, a somewhat disgusting morbidity, one of those semi-criminal, semi-pathological propensities which one hands over with a shudder to the specialists in mental disease � But beware! The time for all this is not yet. For at least another hundred years we must pretend to ourselves and to everyone that fair is foul and foul is fair; for foul is useful and fair is not. Avarice and usury and precaution must be our gods for a little longer still. For only they can lead us out of the tunnel of economic necessity into daylight.
--John Maynard Keynes (1931)
So true -- we need to remember that at that time and especially in England, Marxism was fashionable, the Fabian Society was in full swing and the root simplicity of Capitalism was being willfully ignored as it was too simple to be real.
Hayek. Now. Please.
Posted by: DaveH at March 12, 2011 11:14 AMA brilliant man, who wrote some brilliant work. However, he was wrong on many things. The last 100 years have pretty much proved how wrong. Too many "thinkers" are stuck on him, and cannot change their views. We must change our outlook from Keynes to Hayek. And quickly...
Posted by: Bob at March 12, 2011 5:37 AM